Are you interested in adding real estate to your investment portfolio? If so, Detroit has a lot to offer. From beautiful brick colonial homes to well-maintained bungalow properties, the best neighborhoods in Detroit offer fantastic investment opportunities that you can use to maximize your ROI. The following Detroit neighborhoods have diverse economies, appealing amenities, and ample stability for investors who are looking for long-term growth.
Grandmont-Rosedale
If you have the capital, investing in a high-end community like Grandmont-Rosedale can be highly effective for generating long-term returns. This residential area can be found in the northwest portion of Detroit. It’s overseen by one of the more active neighborhood associations, which is why young couples and families strive to live in the area. The Grandmont-Rosedale community consists of five neighborhoods, including Rosedale Park, North Rosedale Park, Grandmont, Grandmont #1, and Minock Park.
There are more than 3,000 single-family properties in these neighborhoods, many of which were constructed at the turn of the 20th century. Most of these homes are brick Colonial-style structures. However, you can find a wide range of architectural styles when you’re searching for the perfect investment. Along with small, cottage-style homes, you’ll discover properties that measure more than 2,500 square feet. This area has been a popular destination among prospective Detroit residents for years, which is why it’s a good location for real estate investing.
Corktown
Corktown is the oldest neighborhood in Detroit, which gives it a flair that other places don’t have. While no investment is a “sure thing”, Corktown may be the best location for real estate investors. The neighborhood has an electric atmosphere that appeals to tourists and residents.
Since the neighborhood consistently experiences high buyer demand, any property you invest in should increase in value with each passing year. Rental income growth is also possible in this neighborhood. Corktown is located in proximity to Ford Motor Company’s headquarters and other major employers. Residents have easy access to popular event venues, cafes, and boutique stores.
Downtown Detroit
Downtown Detroit has been revitalized in recent years, which has made it a favorite with experienced real estate investors. It’s located near Wayne State University and other colleges, which makes it popular among faculty and students. The neighborhood has a strong arts scene and a diverse economy. New development projects are also being performed regularly, which enhances the neighborhood and caters to potential residents who wish to lead an urban lifestyle.
Bagley
The Bagley neighborhood is another one that’s located in the northwest portion of Detroit. It has some of the most beautiful homes in the city. Many of these homes were built with the same Colonial-style architecture that’s also present in places like Grandmont-Rosedale.
This neighborhood is less than two miles from the Oakland County suburbs. It’s bordered by other upscale neighborhoods that are popular with investors. However, the homes in Bagley aren’t as pricey as the ones in places like Green Acres, The University District, and Sherwood Forest. While there are many reasons that people enjoy living in Bagley, it’s known for its fantastic education system. The neighborhood is home to schools like:
- John Bagley Elementary
- U of D Jesuit High School and Academy
- Mumford High School
- University of Detroit Mercy
The University of Detroit Mercy offers an excellent dentistry program that’s among the best in the country. This neighborhood should be at the top of your list.
Aviation Subdivision
The Aviation Subdivision neighborhood is found on the northwest side of Detroit, which is among the most appealing locations in the city. While some of the nearby neighborhoods don’t offer a lot of variety when it comes to the style of home you can buy, Aviation provides numerous property styles. If you travel to a street like Hartwell, you’ll notice picturesque bungalow-style homes that often range from 1000-1,400 square feet. Oakman Blvd. is a favorite among Detroit residents. It loops the whole neighborhood and features homes in the ranch, Tudor, Colonial, and bungalow styles.
Consider stopping by or looking up Ward Street when you’re searching for the right property to invest in. This street is comprised of spacious Colonial-style homes that are around 300-500 square feet larger than bungalows. Keep in mind that Aviation is situated on the border of the Dearborn suburb, which is home to desirable restaurants, large grocery stores, and varied shopping destinations. While Aviation is a popular spot for potential homeowners, it only consists of around 1,000 properties.
Ferndale
Ferndale is a vibrant community in the northernmost portion of Detroit that hosts a popular art scene and a diverse population. Residents who want an urban lifestyle often decide to buy a home in this suburb, which means that real estate investments in this neighborhood have the potential to earn a high ROI.
The neighborhood maintains its desirability by offering a wide selection of entertainment venues, restaurants, and boutiques. It offers some walkable streets and many amenities that are appealing to families, creatives, and professionals. Ferndale is also close to notable highways, which improves its accessibility.
Royal Oak
Royal Oak is another popular suburb in Detroit that offers a compelling downtown area while also providing residents with the peace and quiet that’s not often found in urban destinations. Like Ferndale, Royal Oak is near several of the largest highways in the city, which is one of the reasons why professionals choose to live here and commute to Downtown Detroit.
The neighborhood consists of homes that come in many architectural styles. You can invest in modern townhouses and condominiums as well as historic homes. Residents also have easy access to several parks.
Whether you prefer to invest in quaint suburban neighborhoods or bustling urban areas, Detroit offers fantastic investment opportunities that can help you expand your portfolio and improve your earnings. If you’d like to maximize your ROI and make sure you invest your money wisely, call Upside Investments today to learn how we can guide you through the real estate acquisition process.
If you’re investing from overseas or from another state, you should really know the pros and cons of the marketplace. There are never any guarantees to real estate investing, and every investment comes with a set of risks. You must understand them before investing and get the whole picture.
